Monash IVF Group Limited (ASX:MVF) entered into Share Sale Agreement to acquire 80% stake in Fertility North Holdings Pty Ltd on December 19, 2023. The consideration for initial up-front cash consideration is estimated at AUD 12 million. Additional earn-out payments over a one to three year period may be payable, based on the achievement of certain financial targets.

The AUD 0.5 million acquisition costs incurred by Monash for the half year ended December 31, 2023 includes the Fertility North acquisition. Fertility North generates approximately AUD 9 million revenue per annum. The acquisition is subject to certain conditions precedent, including Australian Competition and Consumer Commission (ACCC) approval.

As of February 22, 2024, Australian Competition and Consumer Commission approved the transaction. The completion of the deal is anticipated to occur in Q3 FY24.